Consider the following statements with respect to New Delhi International Arbitration Centre NDIAC 1...........

Indian Polity Judiciary

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Consider the following statements with respect to New Delhi International Arbitration Centre (NDIAC)

1. The Chairperson of NDIAC will be appointed by the Supreme Court of India.

2. Only Judges from Supreme Court will be appointed as chairperson of NDIAC.

Which of the statement(s) given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

The Union Cabinet has recently approved the promulgation of an Ordinance for establishing the New Delhi International Arbitration Centre (NDIAC) for the purpose of creating an independent and autonomous regime for institutionalised arbitration.

New Delhi International Arbitration Centre (NDIAC) will be headed by a chairperson who has been a Judge of the Supreme Court or a Judge of a High Court or an eminent person, having special knowledge and experience in the conduct or administration of arbitration law or management, to be appointed by the Central Government in consultation with the Chief Justice of India.